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XPP Xp Power Limited

1,090.00
30.00 (2.83%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Xp Power Limited LSE:XPP London Ordinary Share SG9999003735 ORD 1P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  30.00 2.83% 1,090.00 1,084.00 1,088.00 1,088.00 1,034.00 1,044.00 36,011 16:35:03
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Motors And Generators 290.4M -20M -0.8445 -12.88 257.66M

XP Power Ltd Director/PDMR Shareholding

31/05/2017 5:06pm

UK Regulatory


 
TIDMXPP 
 
31 May 2017 
 
                   XP Power Limited ("XP" or the "Company") 
 
                Grant of Long Term Incentive Plan (LTIP) awards 
 
The Company announces that on 30 May 2017, certain Directors of the Company 
were awarded a nominal priced option over ordinary shares of 1p each in the 
Company ("Ordinary Shares") as detailed below, under the XP Power Limited Long 
Term Incentive Plan 2017 (the "Awards") approved by shareholders on 19 April 
2017. 
 
Director            Number of Ordinary 
                     Shares over which 
                      awards granted 
 
Mike Laver                 3,000 
 
Duncan Penny               6,000 
 
Jonathan Rhodes            2,000 
 
Andy Sng                   2,000 
 
TOTAL                     13,000 
 
The vesting of the Awards is conditional on meeting performance conditions 
measured over a three-year period as described below, with 50% vesting on the 
third anniversary of the date the Awards were made and 50% vesting after a 
further one year deferral period. 
 
Performance conditions 
 
1.       Earnings per Share Target 
 
Up to 50% of the total Awards will vest on the achievement of the following 
earnings per share ("EPS") compound growth per annum targets for the three 
financial years ending 31 December 2017, 2018 and 2019 (the "Performance 
Condition Period") as shown in the following table: 
 
 EPS compound growth per annum ("EPS    Max. No. of Ordinary Shares vesting 
               Target")                      subject to the EPS Target 
 
                  5%                                   1,625 
 
                 10%                                   6,500 
 
Achievement of the EPS Target between 5% and 10% will result in the Awards 
vesting on a straight-line basis and any entitlement to a fraction of a Share 
shall be rounded down. 
 
2.       Total Shareholder Return ("TSR") Target 
 
Up to 50% of the total Awards will vest dependent upon the performance of the 
Company's TSR measured against that of the FTSE250 over the Performance 
Condition Period. 1,625 Ordinary Shares will vest at median performance with 
6,500 Ordinary Shares vesting at upper quartile performance.  Vesting between 
these points will be measured on a straight-line basis. 
 
Malus and clawback provisions are also in place to reduce or recover the Awards 
for criteria such as any material misstatement of the financial statements, a 
serious breach of the Company's code of ethics or a serious health and safety 
issue. 
 
1.     Details of the person discharging managerial responsibilities/person 
       closely associated 
 
(a)    Name             Mike Laver 
                        Duncan Penny 
                        Jonathan Rhodes 
                        Andy Sng 
 
2.     Reason for the notification 
 
(a)    Position/status  Mike Laver - President, World Wide Sales and 
                        Marketing 
                        Duncan Penny - Chief Executive 
                        Jonathan Rhodes - Finance Director 
                        Andy Sng - Executive Vice President, Asia 
 
(b)    Initial          Initial notification 
       notification/ 
       Amendment 
 
3.     Details of the issuer 
 
(a)    Name             XP Power Limited 
 
(b)    LEI              213800I7RWQ3FV72EZ26 
 
4.     Details of the transaction(s): section to be repeated for (i) each 
       type of instrument; (ii) each type of transaction; (iii) each date; 
       and (iv) each place where transactions have been conducted 
 
(a)    Description of   Ordinary Shares of GBP0.01 each in the Company 
       the Financial 
       Instrument 
 
(b)    Identification   SG9999003735 
       code of the 
       Financial 
       Instrument 
 
(c)    Nature of the    Award of options over Ordinary Shares as part of 
       transaction      the XP Power Limited Long Term Incentive Plan 2017. 
                        The potential vesting of the awards are subject to 
                        earnings per share and total shareholder return 
                        targets 
 
(d)    Price(s) and     Price(s)                  Volume(s) 
       volume(s) 
 
                        Exercisable at nominal    Mike 
                        price of 1 pence per      Laver 
                        Ordinary Share            3,000 
                                                  Duncan 
                                                  Penny               6,000 
                                                  Jonathan Rhodes 
                                                  2,000 
                                                  Andy 
                                                  Sng 
                                                  2,000 
 
(e)    Aggregated 
       information      Mike Laver                     3,000 
       -                Duncan Penny               6,000 
       Aggregated       Jonathan Rhodes           2,000 
       volume           Andy Sng                      2,000 
                        TOTAL                  13,000 
 
       -                Exercisable at nominal price of 1 pence per 
       Price            Ordinary Share 
 
(f)    Date of the      30 May 2017 
       transaction 
 
(g)    Place of the     n/a 
       transaction 
 
                                    -Ends- 
 
Enquiries: 
 
XP Power 
Duncan Penny, Chief Executive Officer    +44 (0)118 976 5086 
Jonathan Rhodes, Finance Director         +44 (0)118 976 5074 
 
Citigate Dewe Rogerson               +44 (0)20 7638 9571 
Kevin Smith/Jos Bieneman 
 
 
 
END 
 

(END) Dow Jones Newswires

May 31, 2017 12:06 ET (16:06 GMT)

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